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The Program Development Objective is to support Government of the Philippines reforms to (1) scale up adoption of clean energy technologies; (2) increase the security, flexibility and competition of electricity markets; and (3) improve water management across water uses.
The technical assistance (TA) aims to accelerate the energy transition and enhance regional power trade in select Greater Mekong Subregion (GMS) and ASEAN countries under the ASEAN Power Grid (APG) initiative. It supports project preparation, knowledge sharing, and capacity development in Cambodia, Laos, Indonesia, Malaysia, China, the Philippines, Thailand, and Vietnam.
This project supports the Philippines' energy transition by de-risking geothermal resources, developing offshore wind ports, advancing electrification, and improving energy efficiency in buildings. It also strengthens energy transition policies and boosts planning and management capacity for clean energy investments.
The program supports the Philippines’ climate commitments, including its NDC goal to cut GHG emissions by 75% by 2030 and enhance climate adaptation. It promotes sector-wide actions to build a climate-resilient, low-carbon economy through coordinated policies and cross-sector collaboration.
The technical assistance (TA) supports developing member countries (DMCs) in decarbonizing hard-to-abate sectors while ensuring a just and inclusive transition aligned with the Paris Agreement. It focuses on regional cooperation, knowledge sharing, and accelerating transformation through sectoral assessments, business model development, policy dialogues, capacity building, and project pipeline development for investment.
The energy component of the project aims to enhance capacities of micro, small, and medium enterprises (MSMEs) in integrating energy management solutions for energy reduction as guided by the Climate Smart Industry Roadmap that will be developed with the Department of Trade and Industry. The project will also support key actors in the transport sector for emission reductions.
1. Improve understanding of barriers to private sector development (PSD). 2. Strengthen stakeholder engagement to create a more supportive enabling environment for PSD, particularly in relation to climate change mitigation and adaptation. 3. D15 nhance coordination and coherence in the execution of ADB-supported upstream, midstream, and downstream PSD activities, aligned with climate change goals.
1. Chart a course for ASEAN’s sustainable finance efforts. It would establish a unified ASEAN vision for sustainable finance and serve as an overarching guide for all ASEAN Member States (AMS) in addressing the urgent need to foster an inclusive green transition which includes scaling up sustainable financing and accelerating towards Paris Agreement and 2030 Sustainable Development Goals. 2. Draw the attention of the ASEAN Senior Level Committee on Financial Integration (SLC), relevant ASEAN financial sectoral bodies, networks, initiatives, and other stakeholders to the key priorities of the sustainable finance agenda. The roadmap will also help inform the broader SLC agenda on climate and sustainability, future workplans of the SLC Task Force on Sustainable Finance (SLC-TF), and other relevant ASEAN work.
Provide a $12 million loan to develop, construct, and operate up to 70 MW of rooftop solar power systems on commercial and industrial buildings in the Philippines.